Nigeria Dangote Refinery has partnered with MRS Oil and Gas to sell petrol at ₦935 per liter at retail outlets nationwide.
This price reduction follows a decrease in the ex-depot price from ₦970 to ₦899.50 per liter.
Mr Anthony Echiejina, Head of Media Communications of Dangote Refinery, disclosed this in a statement on Saturday in Lagos.
The company said that the new pricing, which had already been implemented in Lagos, would be rolled out nationwide starting from Monday.
It stated that the move followed an earlier reduction on Nov. 24, when the off-depot price of petrol was decreased from ₦990 to ₦970 per litre.
Mr Aliko Dangote, President of Dangote Industries Ltd., commended President Bola Tinubu for the positive impact of the naira-for-crude swap deal on the Nigerian economy.
He said that the deal had contributed to the reduction of petroleum product prices.
“To ensure that this price reduction reaches the end consumer, we have partnered with MRS to sell petrol at ₦935 per litre through its retail outlets nationwide,” Dangote noted.
He also urged other oil marketers, including NNPC Retail, to join in the effort so that Nigerians could benefit from high-quality petrol at lower prices.
“The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will continue to collaborate with various stakeholders to deliver high-quality petrol at more affordable prices.
“Our goal is to ensure that all Nigerians have access to high-quality petroleum products that are not only good for their vehicles but also for their health and their wallets,” the president added.
The Federal Executive Council (FEC), under the leadership of President Bola Tinubu, in September, approved the sale of crude to local refineries in naira and the corresponding purchase of petroleum products in naira.
The move, which took effect on Oct. 1, has reduced pressure on the dollar and helped stabilise the local currency.